Going, going, going ... potential home buyers are choosing to save their pennies rather than bid for real estate.Picture: File
Source: Herald Sun
Capital city house prices fall 2.7 per cent Sydney the only market to record a rise Brisbane, Perth house price fall biggest
HOUSE prices have fallen almost three per cent so far in 2011 as potential home buyers choose to save their pennies rather than bid for real estate.
Showing posts with label newscomau. Show all posts
Showing posts with label newscomau. Show all posts
Friday, 8 July 2011
Wednesday, 6 July 2011
news.com.au: Loan pain as mortgage entry fees explode
Lenders lift "front-end" fees Reaction to ban on exit fees Costs spread across new borrowers
NEW home loan customers are being hit by massive increases in upfront mortgage fees because of the Federal Government's ban on exit fees.
news.com.au: Backyard blitzed as Aussie dream shrinks
House prices in Australia's capital cities have fallen 2.7 per cent through the first five months of 2011.
Roxanne Lawrence, Enrico Sedita and son Jordayne, 15 months, at their 266sq m Maroochydore house block. Picture: Megan Slade Source: The Sunday Mail (Qld)
THE great Australian dream faces a major reality check, with new home buyers being offered house blocks a quarter the size their parents bought.
THE great Australian dream faces a major reality check, with new home buyers being offered house blocks a quarter the size their parents bought.
news.com.au: Ads help NAB claw back mortgages
NATIONAL Australia Bank chief Cameron Clyne's fight for a larger share of Australia's mortgage market continues to bear fruit.
NAB increased mortgage lending 15.8 per cent in May compared with the same month a year earlier, according to Credit Suisse analysts.
Rivals Commonwealth Bank, Westpac and ANZ posted slower growth in mortgages, which account for 63 per cent of all lending.
news.com.au: ABS data won't change rate outlook
THE outlook for interest rates is unchanged despite the release of weaker than expected retail trade and building approvals data, economists say.
The Reserve Bank of Australia (RBA) last increased the cash rate in November 2010 from 4.5 per cent to 4.75 per cent and most economists expect the next rise to be in August.
Australian residential building approvals data was released today, showing a fall of 7.9 per cent in May, much larger than the 0.5 per cent drop economists were expecting.
In the year to May, building approvals were down 14.4 per cent, the Australian Bureau of Statistics (ABS) said.
The Reserve Bank of Australia (RBA) last increased the cash rate in November 2010 from 4.5 per cent to 4.75 per cent and most economists expect the next rise to be in August.
Australian residential building approvals data was released today, showing a fall of 7.9 per cent in May, much larger than the 0.5 per cent drop economists were expecting.
In the year to May, building approvals were down 14.4 per cent, the Australian Bureau of Statistics (ABS) said.
news.com.au: Builders worried as stimulus fades
BUILDERS are worried there will not be enough private sector work available when the Federal Government stimulus programs end.
Releasing the latest Master Builders Australia (MBA) national survey, chief economist Peter Jones has also warned of anecdotal evidence of uncertainty in the industry due to the government's proposed carbon tax.
"The survey shows work on builders' books holding up reasonably well in the June quarter, but it remains to be seen for how long this can continue given the winding down of stimulus projects and a less than positive outlook for new work," Mr Jones said today.
Releasing the latest Master Builders Australia (MBA) national survey, chief economist Peter Jones has also warned of anecdotal evidence of uncertainty in the industry due to the government's proposed carbon tax.
"The survey shows work on builders' books holding up reasonably well in the June quarter, but it remains to be seen for how long this can continue given the winding down of stimulus projects and a less than positive outlook for new work," Mr Jones said today.
news.com.au: 'Interest rates on hold until August'
Cash rate steady in July - economists RBA eyes weaker domestic, global data Rate rise forecast for August
THE Reserve Bank of Australia is expected to hold interest rates steady when it meets tomorrow but a hike is tipped next month to temper the effect of the aggressive growth of the mining boom.
THE Reserve Bank of Australia is expected to hold interest rates steady when it meets tomorrow but a hike is tipped next month to temper the effect of the aggressive growth of the mining boom.
news.com.au: Caution keeps loan ratios down
Smaller mortgages are in vogue as house prices soften in Australian capital cities / File Source: The Daily Telegraph
AUSTRALIANS are borrowing less as house prices slide, further entrenching the culture of debt reduction set in train by the financial crisis.
People taking out mortgages last month signed up for smaller loans relative to the value of their property than at any time during the previous six months, according to data from Australia's biggest mortgage broker.
Australian Finance Group statistics show that the average loan-to-value ratio was 64.2 per cent nationally, and the average ratio fell in Victoria, New South Wales, South Australia and the Northern Territory.
Smaller mortgages are in vogue as house prices soften, and in June the average mortgage across Australia was $384,042 - about 1.1 per cent lower than the previous month.
AUSTRALIANS are borrowing less as house prices slide, further entrenching the culture of debt reduction set in train by the financial crisis.
People taking out mortgages last month signed up for smaller loans relative to the value of their property than at any time during the previous six months, according to data from Australia's biggest mortgage broker.
Australian Finance Group statistics show that the average loan-to-value ratio was 64.2 per cent nationally, and the average ratio fell in Victoria, New South Wales, South Australia and the Northern Territory.
Smaller mortgages are in vogue as house prices soften, and in June the average mortgage across Australia was $384,042 - about 1.1 per cent lower than the previous month.
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